Press releases, Reports & Disclosures for National Marine Dredging Co.

NMDC has been awarded a contract by Jubail Island Investment Company for the Abu Dhabi Mangrove Channel Widening Works (Area 2 and 3) project. The contract is valued at AED 129,640,690 and is expected to be completed in 180 days.

NMDC Energy, a subsidiary of NMDC Group, has been awarded a contract by ADNOC for the engineering, procurement, and construction of the lower-carbon Ruwais LNG project in Al Ruwais Industrial City. The project is valued at USD 5.5 billion, with NMDC Energy holding a 20% share. The project is expected to be completed in 57 months.

The Board of Directors of the National Marine Dredging Company held a meeting on 2 May 2024 via video conference. During the meeting, they approved the company's draft financial statements for the first quarter of the financial year 2024. The board also discussed recent developments related to the company's activities and projects. The information was shared by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul. A copy of the financial statements was sent to the Securities and Commodities Authority.

The Management Discussion and Analysis for the National Marine Dredging Company PJSC (NMDC) for the three-month period ending 31 March 2024 shows a significant increase in revenue and profit compared to the same period in 2023. Revenue rose from AED 3,208 million in Q1 2023 to AED 5,342 million in Q1 2024, primarily due to ongoing projects awarded by a major Abu Dhabi developer and other projects in the UAE and Saudi Arabia. Gross profit increased from AED 323 million to AED 802 million, and net profit rose from AED 303 million to AED 641 million. The geographical distribution of revenue remained consistent in both periods, with the UAE accounting for the majority of the revenue.

The National Marine Dredging Company PJSC has released its unaudited interim condensed consolidated financial statements for the three-month period ending on 31 March 2024.

The Board of Directors of the National Marine Dredging Company held a meeting on 2 May 2024 via video conference. In this meeting, they approved the Company's draft financial statements for the first quarter of the current financial year 2024. The board also discussed recent developments related to the company's activities and projects. The meeting was led by Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul. A copy of the financial statements was sent to the Securities and Commodities Authority (SCA).

The Board of Directors of the National Marine Dredging Company held a meeting on 2 May 2024 via video conference. During the meeting, the board approved the company's draft financial statements for the first quarter of the current financial year 2024. The board also discussed recent developments related to the company's activities and projects. The information was shared by the Group Chief Executive Officer, Eng. Yasser Nassr Zaghloul.

Resolution No. 382 of 2024 temporarily suspends trading of National Marine Dredging Co.'s shares on ADX. The suspension is due to a coinciding Board of Directors meeting scheduled for 2-May-2024 at 13:00. Trading will be suspended from 09:00 on 2-May-2024 until ADX receives the meeting results. The resolution instructs all heads of departments in ADX to execute this decision in their respective fields and circulate it to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution, approved by the authorized person, was issued on 30/04/2024.

The Board of Directors of the National Marine Dredging Company PJSC is set to meet on Thursday, 2 May 2024 at 1 p.m. at Royal Group’s offices. The meeting agenda includes the approval of the Company’s draft financial statements for the first quarter of the financial year 2024 and discussion of other general matters related to the Company's activities and projects. The Securities and Commodities Authority (SCA) is also informed about this meeting.